According to reports, Mirror Protocol has lost as much as $2 million and is in danger of losing much more.
A few days after Mirror was found to have been hacked for over $90 million seven months ago, the protocol looks to be the victim of a new breach. There are pricing oracles that are saying one thing but really implying something another, which suggests that this attacker is taking advantage of that fact.
This time around, the Mirror community member who commented about the vulnerability on the Mirror community forum was FatMan, who identified the prior Mirror exploit four days earlier.
FatMan claims that the hack was made feasible because of an issue in the setting of the pricing oracles. For the record, oracles are showing the price of Terra 2.0 $LUNA coin ($9.80) instead of the old Terra Classic $LUNC coin ($0.0001), according to Chainlink forum member ChainLinkGod.
Metasploit is said to have cost Mirror Protocol $200,000, however, Crypto Briefing has not been able to verify that figure as of yet. However, it is clear that the mBTC, mETH, mDOT, and mGLXY pools have lost their liquidity.
If mAAPL and mAMZN are exhausted, FatMan and other cryptocurrency users are appealing to Mirror developers for help before other mAsset pools are also depleted.
Digital synthetics, such as stocks, may be created via Mirror Protocol, a decentralised programme that tracks the price of real-world assets. Mirror’s main contracts were deployed on Terra Classic, although its assets may be found on Ethereum and Binance Smart Chain (BSC). This is not the first time the company has been hacked; in fact, it was only found seven months later.
Also Read: According to industry experts, market-cleansing bear cycles are beneficial
